On July 7, 2022, the pseudonymous non-fungible token (NFT) collector known as “0xb1” published a Twitter thread that discusses the collector’s true identity and his relationship with the crypto lending firm Celsius. According to 0xb1, otherwise known as Jason Stone, his team found “major problems in how the company operated,” and Stone told Celsius his team would terminate their relationship…
Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin (wBTC), worth $528.9 million to crypto exchange FTX, prompting concerns from some in the community about whether a dump may soon follow. The huge transfer to the exchange comes after the lending platform paid off its remaining $41.2 million of debt to Maker (MKR) protocol, freeing up its loan’s entire…
Solana Labs is the latest crypto company to be hit with a lawsuit accusing it of promoting an unregistered security. The class action was filed on July 1 by Roche Freedman LLP and Schneider Wallace Cottrell Konecky in the district court for the northern district of California on behalf of plaintiff Mark Young, a state resident. The lawsuit accuses Solana…
Staking software and investment firm KeyFi Inc. has filed a complaint against beleaguered crypto-lending firm Celsius, alleging the company had been operating in a “Ponzi” style fashion and that it failed to honor a profit-sharing agreement “worth millions of dollars.” The complaint, filed on July 7, alleges that Celsius has refused to honor a “handshake agreement” in which KeyFi would…
This is an opinion editorial by Vishvas Garg, a Ph.D. in pharmacoeconomics, epidemiology, pharmaceutical policy and outcomes research from the University of New Mexico. Compared to the total world population of over 7.7 billion people, bitcoin is owned in less than 150 million wallets today. While this does not mean one wallet translates to one person, it is safe to…
Bitcoin (BTC) mining company Marathon Digital Holdings experienced a steep 43.8% decline in bitcoin production over the second quarter of 2022, with June registering as the company’s least productive month in over a year following the fall of its Montana facility. In its latest mining operation update released on July 7, Marathon reported that it produced 707.1 Bitcoin in Q2…
The U.S. and South Korean governments have reportedly agreed to share data on ongoing crypto cases, including the case surrounding Terraform Labs CEO Do Kwon and the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). U.S. and South Korea to Share Data on Crypto Investigations South Korea’s Justice Minister Han Dong-hoon met with U.S. prosecution officials during a visit…
DeFi entrepreneur Jason Stone—one of the individuals behind yield farming account 0xb1 and CEO of KeyFi, Inc.—is suing crypto lending platform Celsius for allegedly refusing to honor its contract. Stone is seeking damages for an amount “to be determined at trial.” In the lawsuit filed in New York on Thursday, KeyFi alleges Celsius used customer funds to “manipulate crypto asset…
This is an opinion editorial by Renata Rordigues, global community and education lead at Paxful. Bitcoin is empowering millions across the world to become sovereign entrepreneurs. After visiting neighborhoods in Nigeria and Colombia, I found people taking power back into their own hands and charting their own journey toward financial freedom. What we’re seeing are communities removing borders and limitations…
Hope springs eternal for many crypto investors after the market saw positive price movement on July 7, alongside gains in the traditional market. Daily cryptocurrency market performance. Source: Coin360 The green day in the markets comes amid a backdrop of increasing jobless claims in the U.S., which is a possible signal that “the pressure on wages may have now peaked”…
